daroz:

Building a house for rent is a good long term investment, but i don't consider it a good business cos its returns are usually very slow and small, in comparison to when u invest the cash in other business. But having a landed property can actually be seen as a safe haven for your money instead of leaving it there at the bank, cos house in Nigeria hardly depreciate.

chxCanada:

Personally I believe it is better to build a house for rent than to invest in stocks.

1. A house is a long-term investment that would last into old age and can be passed down to the children and children's children.
2. Houses do not depreciate and rents would always be on the increase.
3. In you old age when you are unable to work the house rents would keep you going better than any pension plan
4. My Dad was a contractor and for many years he could not find a contract, the eight 2-bedroom flats he had paid for our feeding, university education and today all his six children are abroad, even in his old age.
5. If you are looking for quick money please do not invest in housing.
6. There would always be demand for rental houses and nobody can talk me out of building for rent. I hope to have as many as I can and when I am old, by the grace of God, and too weak to work my many houses would pay my bills better than any pension plan

bad people:

On my own opinion, i will strongly advised that building to rent is a bad bussines, follow me on these;
First, is the responsibility of our leaders to build houses all over and rent for people with cheaper rates, but because we have lazy and shortsight rogues leaders in govt that is why we citizen now see building house for rent as a bussines.

Take this for consideration, assuming you invested your last dime to build an 8flat storey building, thats means you have 8 ocupants, after you received 2yrs rent from them, they don,t have anything to do with you until expiration now agreed you eject them or they eject themselves at the end of the agreement, on renovation of the house to look back as it was originally, i bet, you will spend half of the rent you collected cos renovation is expensive

Now, there are series of viable bussines like build a hall for renting i.e. parties,seminars, church and so on

bad people:

On my own opinion, i will strongly advised that building to rent is a bad bussines, follow me on these;
First, is the responsibility of our leaders to build houses all over and rent for people with cheaper rates, but because we have lazy and shortsight rogues leaders in govt that is why we citizen now see building house for rent as a bussines.

Take this for consideration, assuming you invested your last dime to build an 8flat storey building, thats means you have 8 ocupants, after you received 2yrs rent from them, they don,t have anything to do with you until expiration now agreed you eject them or they eject themselves at the end of the agreement, on renovation of the house to look back as it was originally, i bet, you will spend half of the rent you collected cos renovation is expensive

Now, there are series of viable bussines like build a hall for renting i.e. parties,seminars, church and so on

Fhemmmy:

Now matter how you look at it, a building is still a great investment.
See the people selling a plot of land in Ajah for 50M naira, how much do you think they paid for those lands 10 years ago? . . . think about it

baconline:

land is a good investment not building
land appreciate ,buildings deppreciate

Fhemmmy:

I thought you were the same gentleman that started a thread about if financially wise to build a house?

snowdrops:

if you were referring to me, i cant remember if i ever started such a thread. i might well have done as i am so much interested in properties especially for investment.

snowdrops:

sorry boss. thanks for the correction.

Fhemmmy:

Depreciation still holding better value than what you spent when you built the home . . . . .
You spent 20M Naira to build a home where a rent could 400K a year and you build 6 block of flats . . . now tell me how long it will take you to realize your money back and yet have the house still as yours, and you are still making money on a yearly basis.
By the way, when a tenant leave and you have to renovate, how much would it cost you, remember those are bricks and only paint or fix doors and lighting, so i have no idea what kinda money you have to spend that will be so terrible.